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ANNUAL REPORT 2013 |
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COMPARATIVE
STATEMENT OF INCOME AND EXPENSES |
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For
the Calendar Year Ended
December 31, 2013 |
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STATEMENT OF INCOME AND EXPENSES - 2013 |
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ACTUAL |
BUDGET |
DIFFERENCE
Inc. (Dec.) |
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INCOME |
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Income from Waterworks System |
P
9,944,208.69 |
P
10,268,388.75 |
P (324,180.06) |
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Other Business Income |
470,309.56 |
579,840.00 |
(109,530.44) |
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Fines and Penalties |
500,184.26 |
410,735.55 |
89,448.71 |
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GROSS INCOME |
10,914,702.51 |
11,258,964.30 |
(344,261.79) |
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LESS:
EXPENSES |
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PERSONAL
SERVICES |
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Salaries and Wages - Regular |
2,235,511.78 |
2,545,416.00 |
(309,904.22) |
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Salaries
and Wages - Contractual |
334,096.70 |
326,390.00 |
7,706.70 |
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Personal
Economic Relief Allowance (PERA) |
286,000.00 |
288,000.00 |
(2,000.00) |
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Representation Allowance (RA) |
60,000.00 |
48,000.00 |
12,000.00 |
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Transportation Allowance (TA) |
60,000.00 |
48,000.00 |
12,000.00 |
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Clothing/Uniform Allowance |
71,942.00 |
73,000.00 |
(1,058.00) |
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Productivity Incentive Allowance |
26,000.00 |
26,000.00 |
0.00 |
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Other Bonuses and Allowances |
276,100.00 |
286,000.00 |
(109,900.00) |
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Overtime and Night Pay |
194,477.33 |
100,000.00 |
94,477.33 |
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Cash Gift |
57,500.00 |
55,000.00 |
2,500.00 |
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Year End Bonus |
186,321.62 |
234,592.00 |
48,270.38 |
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Life and Retirement Insurance Contributions |
268,196.52 |
305,449.92 |
(37,253.40) |
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PAG-IBIG Contributions |
12,340.04 |
14,400.00 |
(2,059.96) |
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PHILHEALTH Contributions |
25,636,.03 |
29,850.00 |
(4,213.97) |
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ECC - Contributions |
14,060.00 |
14,400.00 |
(340.00) |
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Terminal Leave Benefits |
288,954.24 |
300,000.00 |
(11,045.76) |
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Provident Fund Benefits |
16,270.49 |
25,454.16 |
(9,183.67) |
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Other Personal Benefits |
28,257.50 |
26,000.00 |
2,257.50 |
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Total
Personal Services |
4,441,664.25 |
4,845,952.08 |
(404,287.83) |
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MAINTENANCE
AND OTHER OPERATING EXPENSES |
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Traveling Expenses - Local |
197,791.49 |
205,300.00 |
(7,508.51) |
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Training Expenses |
163,855.76 |
142,000.00 |
21,855.76 |
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Office Supplies Expenses |
82,934.32 |
75,000.00 |
7,934.32 |
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Accountable Forms Expense |
60,378.89 |
30,000.00 |
30,378.89 |
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Gasoline, Oil and Lubricants Expenses |
752,976.10 |
400,000.00 |
352,976.10 |
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Other Supplies Expenses |
23,720.78 |
25,000.00 |
(1,279.22) |
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Electricity Expense |
146,363.54 |
210,000.00 |
(63,636.46) |
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Postage and Deliveries |
1,288.00 |
5,000.00 |
(3,712.00) |
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Telephone Expenses - Landline |
18,714.32 |
15,000.00 |
3,714.32 |
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Telephone Expenses - Mobile |
13,726.00 |
12,000.00 |
1,726.00 |
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Internet Expenses |
10,989.00 |
12,000.00 |
(1,011.00) |
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Cable, Satellite, Telegraph and Radio
Expenses |
2,860.00 |
5,000.00 |
(2,140.00) |
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Membership Dues & Contributions to
Organization |
5,295.40 |
5,000.00 |
295.40 |
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Advertising Expenses |
17,400.0 |
35,000.00 |
(17,600.00) |
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Rent Expense |
3,120.00 |
2,000.00 |
1,120.00 |
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Representation Expenses |
158,594.75 |
120,000.00 |
38,594.75 |
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Rewards and Other Claims |
0.00 |
5,000.00 |
(5,000.00) |
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Legal Services |
0.00 |
5,000.00 |
(5,000.00) |
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Auditing Services |
0.00 |
35,000.00 |
(35,000.00) |
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Board Members Allowances and Other Benefits |
198,952.00 |
415,000.00 |
(216,048.00) |
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Repairs and Maintenance - Water System and
Structures |
592,029.37 |
400,000.00 |
192,029.37 |
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Repairs and Maintenance - Office Buildings |
92,813.00 |
5,000.00 |
87,813.00 |
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Repairs and Maintenance - Office Equipment |
7,150.00 |
5,000.00 |
2,150.00 |
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Repairs and Maintenance - Furniture &
Fixtures |
330.00 |
5,000.00 |
(4,670.00) |
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Repairs and Maintenance - IT Equipment |
3,500.00 |
5,000.00 |
(1,500.00) |
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Repairs and Maintenance - Machineries |
0.00 |
5,000.00 |
(5,000.00) |
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Repairs and Maintenance - Communication
Equipment |
0.00 |
5,000.00 |
(5,000.00) |
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Repairs and Maintenance - Other Machineries
& Equipment |
0.00 |
5,000.00 |
(5,000.00) |
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Repairs and Maintenance - Motor Vehicles |
39,819.00 |
20,000.00 |
19,819.00 |
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Repairs and Maintenance - Reforestation |
3,750.00 |
15,000.00 |
(11,250.00) |
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Donations |
0.00 |
10,000.00 |
(10,000.00) |
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Taxes, Duties and Licenses |
234,726.20 |
215,000.00 |
19,726.20 |
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Fidelity Bond Premiums |
3,975.00 |
4,000.00 |
(25.00) |
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Insurance Expenses |
23,496.48 |
25,000.00 |
(1,503.52) |
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Bad Debts Expense |
99,396.53 |
75,000.00 |
24,396.53 |
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Depreciation - Land Improvement |
3,424.32 |
0.00 |
3,424.32 |
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Depreciation - Water System and Structures |
1,132,822.70 |
1,430,000.00 |
(297,177.30) |
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Depreciation - Office Buildings |
68,683.68 |
70,000.00 |
(1,316.32) |
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Depreciation - Office Equipment |
10,488.64 |
5,000.00 |
5,488.64 |
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Depreciation - Furniture and Fixtures |
6,323.10 |
10,000.00 |
(3,676.90) |
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Depreciation - IT Equipment |
18,677.48 |
20,000.00 |
(1,322.52) |
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Depreciation - Machineries |
1,800.00 |
25,000.00 |
(23,200.00) |
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Depreciation - Communication Equipment |
2,284.20 |
3,500.00 |
(1,215.80) |
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Depreciation - Other Machineries and
Equipment |
7,503.67 |
14,000.00 |
(6,496.33) |
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Depreciation - Motor Vehicles |
19,201.23 |
20,000.00 |
(798.77) |
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Total
Maintenance and Other Operating Expenses |
4,231,154.95 |
4,154,800.00 |
76,354.95 |
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FINANCIAL
EXPENSES |
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Bank Charges |
100.00 |
1,000.00 |
(900.00) |
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Interest Expense |
1,942,251.13 |
1,997,918.77 |
(55,667.64) |
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Total
Financial Expenses |
1,942,351.13 |
1,998,918.77 |
(56,567.64) |
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TOTAL EXPENSES |
10,615,170.33 |
10,999,670.85 |
(384,500.52) |
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Income (Loss)
from Operation |
299,532.18 |
259,293.45 |
40,238.73 |
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Other Income
(Loss) |
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Interest Income |
6,355.84 |
5,000.00 |
1,355.84 |
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Total Other
Income (Loss) |
6,355.84 |
5,000.00 |
1,355.84 |
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NET INCOME
(LOSS) |
305,888.02 |
264,293.45 |
41,594.57 |
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